Plexus Corp. (NASDAQ:PLXS) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 21.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,594 shares of the technology company’s stock after selling 17,120 shares during the quarter. Assenagon Asset Management S.A. owned about 0.23% of Plexus worth $8,020,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Plexus during the fourth quarter worth $783,000. Franklin Resources Inc. acquired a new position in Plexus in the fourth quarter valued at $928,000. LPL Financial LLC boosted its holdings in Plexus by 170.5% in the fourth quarter. LPL Financial LLC now owns 8,508 shares of the technology company’s stock valued at $1,331,000 after acquiring an additional 5,363 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Plexus by 21.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,140 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 1,284 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Plexus by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 57,182 shares of the technology company’s stock worth $8,948,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of PLXS stock opened at $130.22 on Friday. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 30.21 and a beta of 0.81. The business has a 50 day simple moving average of $127.84 and a 200 day simple moving average of $139.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.12. The firm had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. On average, equities research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 4,328 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the sale, the chief financial officer now owns 25,637 shares in the company, valued at $3,391,518.73. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $130.77, for a total value of $65,385.00. Following the completion of the sale, the director now owns 9,365 shares of the company’s stock, valued at $1,224,661.05. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,032 shares of company stock valued at $1,582,222 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLXS. Stifel Nicolaus set a $145.00 target price on Plexus in a research report on Thursday, April 24th. Wall Street Zen upgraded Plexus from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $162.00 target price (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Plexus presently has an average rating of “Moderate Buy” and a consensus price target of $155.67.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.